Policy amended for construction and development

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By way of a press release dated 29 October, the cabinet approved amendments to the foreign direct investment (FDI) policy for the construction and development sector. The amendments were implemented through press note 10 of 2014, dated 3 December. The changes include:

Minimum area: The minimum area threshold for construction development projects has been reduced from 50,000 to 20,000 square metres. While previously a minimum built-up area of 50,000 square metres was required, the threshold now is a minimum floor area of 20,000 square metres.

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